Cornelius Power of Attorney Lawyer

What This Page Covers:

  • Overview: Estate planning involves more than just wills; it includes powers of attorney (POA) which govern decision-making for a person while they are still alive, unlike wills which take effect posthumously.
  • Types: There are various types of POAs – general, limited, healthcare, and durable – each granting different levels of authority to the agent over the principal’s decisions.
  • Validity: In North Carolina, a valid POA requires the principal’s clear understanding and intent, a named agent, written documentation, and proper notarization with witnesses.
  • Legal Guidance: Consulting with our estate planning lawyers at King Law to tailor a POA that aligns with personal needs and complies with North Carolina’s legal standards. With more than 305 years of combined experience, our team is ready to help you through the process of managing your estate.
  • To contact a member of our team, please call (888) 748-5464 or (888) 748-KING today. You can also fill out our contact form.

Many people think of wills when they think of estate planning, but a will is not the only legal document that governs who has control over a person’s property and finances. Because wills take effect after a person has died, a different legal instrument dictates who can make decisions regarding a person who is still living. This legal instrument is called a power of attorney, and it is a document that gives a designated agent the authority to make decisions regarding the principal and even act on the principal’s behalf. There are general, limited, and healthcare powers of attorney, and they all grant the agent different powers over the principal. Additionally, a durable power of attorney allows the agent to make decisions even after the principal has become mentally incompetent or incapacitated. Agents who have power of attorney over a principal must act in the principal’s best interest because they owe a fiduciary duty to the principal. 

Nobody plans to become incapacitated, but having a durable power of attorney already in place before such an event occurs can be crucial. If you would like to discuss your estate plan and the possibility of establishing a power of attorney, you should consult with the experienced team of estate planning lawyers with King Law. Our attorneys can help you manage your estate while abiding by North Carolina’s estate planning laws. Contact us today by calling (888) 748-5464 or (888) 748-KING, or you can fill out our online contact form.

What Are the Different Kinds of Powers of Attorney?

A power of attorney is a useful legal instrument that authorizes an agent to make decisions and act on behalf of the principal. In North Carolina, there are different types of powers of attorney, and they each accomplish different goals. The types of powers of attorney are as follows: 

  • General: A general power of attorney authorizes the agent to make personal, business, and financial decisions on behalf of the principal.
  • Limited: A limited power of attorney gives an agent only the authority to act within a limited scope or for a specific purpose pertaining to the principal.
  • Healthcare: A healthcare power of attorney authorizes the agent to make medical decisions regarding the principal when the principal is incapable of making such decisions.
  • Durable: A durable power of attorney authorizes the agent to make personal, business, and financial decisions on behalf of the principal even after the principal is incapacitated or mentally incompetent.

Like wills and other legal instruments, powers of attorney are not one-size-fits-all documents. Estate planning lawyers can evaluate your situation and advise you on the best way to manage your estate. You should consult with a skilled estate planning attorney who can draft a power of attorney in a way that meets your specific needs.

What Are the Elements of a Valid Power of Attorney?

In North Carolina, a power of attorney must meet certain requirements in order to be considered valid. First, the principal must understand the nature of their actions, be able to think clearly, and comprehend what they are doing when creating a power of attorney. Next, the principal must have the intent to appoint an agent who will have the authority to act on the principal’s behalf. Additionally, the principal must name an agent in the document, and the document must be in writing. Finally, the document must be notarized and signed by the principal and agent in front of two witnesses.

Power of attorney is an important legal concept because it addresses who can make decisions for a person who is no longer able to make such decisions. Wills govern what happens to a person’s property after death, but wills do not address what happens if a person becomes mentally incompetent or incapacitated. Durable power of attorney deals with such issues by authorizing a designated agent to step in and make decisions for the principal. If you want your estate plan to be truly prepared for any and all scenarios, you may want to consider having a general, limited, healthcare, or durable power of attorney in place. King Law would be happy to work with you to create your desired estate plan.

Contact the Skilled Estate Planning Attorneys with King Law Today

Many people only include wills in their estate plans, but they should also consider adding powers of attorney. A power of attorney is a legal instrument that authorizes an agent to make decisions and act on behalf of a principal. The principal may be incapacitated or mentally incompetent, thus unable to manage their own affairs. When creating an estate plan, a principal can be proactive by establishing a power of attorney that will give an agent the decision-making authority should the principal become unable to make their own decisions. The different kinds of power of attorney include general, limited, healthcare, and durable. A skilled estate planning lawyer will be able to determine which type is the best fit for your needs. Our estate planning lawyers have experience drafting powers of attorney, and we would be happy to work with you.

King Law’s team of talented estate planning attorneys is ready to help you. We understand that estate planning is an important part of setting the groundwork for the future. To reach us, you can call (888) 748-5464 or (888) 748-KING. You can also fill out our contact form today.